This is a legacy page. Please click here to view the latest version.
Fri 16 Nov 2018, 09:21 GMT

Date set for Aegean final basis motions to be heard


US court to hear motions on December 4.


Image credit: Pixabay
The US court handling the bankruptcy case involving marine fuel and lubricants specialist Aegean Marine Petroleum Network Inc has confirmed that it will hear a number of motions on a final basis on December 4.

The list of motions for entry of interim and final orders has been provided below.

1. Cash Management Motion

Aegean seeks approval to operate its cash management system, maintain existing bank accounts and continue to perform intercompany transactions. The motion was previously approved on an interim basis.

2. Hedging Motion

Aegean aims to get the court's consent to continue pre-petition hedging practices, commence post-petition hedging practices, grant superpriority claims on account of the post-petition hedging obligations, pay pre-petition hedging obligations and grant related relief.

3. Insurance Motion

Aegean aims to get the court's permission to continue pre-petition insurance coverage and surety bonds; renew and enter into new insurance policies and surety bonds; and continue to pay brokerage fees.

4. Taxes Motion

Aegean seeks authorization to pay certain taxes and fees.

5. Wages Motion

At a previous hearing on November 8, Aegean was authorized, on an interim basis, to pay an amount not exceeding $4.75m to cover compensation and withholding obligations (including $3.75m in unpaid wages); benefits and entitlements; and other employee benefits;

6. Vendor Motion

Aegean was previously given the go-ahead, on a provisional basis, to pay foreign claims up to $3m; lien claims up to $4.3m; 503(b) claims up to $11.1m; and HSE and other claims in the ordinary course of business.

7. Creditor Matrix Motion

Aegean seeks authorization to file a consolidated list of its creditors - instead of filing separate mailing matrices and creditor lists for each debtor business, and also wants to file a consolidated list of its largest 30 unsecured creditors.

Additionally, the court noted that it could also hear the Utilities Motion either on December 4 or at a future date.

In the Utilities Motion, Aegean is seeking an order to approve its proposed assurance of payment for utility services; and it also aims to prohibit utility providers from altering, refusing, or discontinuing services.

Objections, if any, to the motions must be served on or before November 27.


HMM and HD Hyundai Heavy Industries (HD HHI) contract signing. HMM orders eight LNG dual-fuel container ships in newbuild push  

South Korean carrier commissions 13,000-TEU vessels from HD Hyundai, with deliveries due to begin in 2029.

Keel-laying ceremony of vessel with builder's hull no. S1125. CIMC SOE advances construction on three LNG bunker vessels  

Chinese shipbuilder progresses three bunker vessel projects in the same week.

Verde Marine Energy (VME) logo. Verde Marine Energy adds two staff as it expands bunkering operations in ARA region  

Dutch bunker supplier hires former Melroh Trading employees and launches RMG 380 3.5% HSFO barge service following Sunoco Marine tie-up.

Fund for Energy Efficiency Technologies (FEET) signing ceremony. Fund for Energy Efficiency Technologies finances first wind-assisted propulsion projects with Eastern Pacific Shipping  

GCMD and AIM Horizon Investments link verified fuel savings to financing for two EPS vessels fitted with wind-assisted propulsion.

Launching ceremony of Yacht Prime and Yacht Star. Pinnacle Marine launches two B100-compatible utility boats for Excelessel Offshore  

Singapore shipbuilder nears completion of six-vessel B100 series.

Maersk Torino vessel. BSM takes over methanol-fuelled Maersk Torino, building alternative fuel experience  

Ship manager adds methanol-fuelled container vessel to its fleet, citing growing expertise in alternative fuel operations.

Albert Park vessel. Bureau Veritas marks naming of Union Maritime's wind-assisted Aframax tanker  

Albert Park, fitted with three WindWings sails, is Chinese yard's first wind-assisted Aframax product tanker.

Maersk Halifax ship-to-ship (STS) ethanol bunkering operation. Singapore completes world's largest ethanol bunkering operation  

Maersk, Golden Island and PSA perform ethanol bunkering in Singapore, drawing on methanol handling experience and safety protocols.

WinGD Global Service personnel. WinGD signs five-year service deal for NYK LNG carrier fleet  

Swiss engine designer WinGD will support ten dual-fuel engines across five Japanese-operated LNG carriers.

Steel-cutting ceremony for vessel with builder's hull no. N1036. Steel cut for third methanol-ready chemical tanker in ROC-Essberger series  

Chemical tanker series is designed with provisions for methanol fuel and wind-assisted propulsion systems.


↑  Back to Top